This year the festivities were viewable via Yahoo Finance’s live stream, making it possible for anyone in the world to tune in to the meeting, which featured a five-hour question-and-answer session with the chief executive.
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“It’s a fascinating movie to watch”, said Buffett, referring to central bank monetary policy worldwide.
Warren Buffett, one of the world’s most storied investors, has issued a fresh warning that the complex derivatives lurking on banks’ balance sheets are a “potential time bomb” that could explode in times of stress.
In a story April 30 about Berkshire Hathaway’s annual shareholders meeting, The Associated Press reported erroneously that Fabio Rivera is a student at the University of Arkansas.
“I regard very large derivative positions as unsafe”.
Buffett estimates roughly 40,000 people attended the shareholders meeting for the conglomerate he leads.
Buffett said BNSF was hurt by declining oil prices and coal shipments, while hailstorms caused losses in Berkshire insurance units.
When not listening to the Oracle of Omaha and his partner Charlie Munger, shareholders had two days to browse and buy Berkshire’s products.
Some vendors said numbers seemed down on in 2015, when Buffett celebrated his 50th anniversary running Berkshire.
This was widely cited as a reason Omaha may have attracted fewer people to the weekend of events that Buffett calls “Woodstock for Capitalists”.
With persistently low interest rates around the globe, billionaire investor Warren Buffett told CNBC Monday that he’d consider taking money out of banks, especially if negative interest rates result in customers being charged to park their money in accounts.
Among the other Berkshire businesses on show were Kirby vacuum cleaners sold through in-home demonstrations and Fruit of the Loom clothing brand, which was among the more popular items.
At the meeting, Mr. Buffett and Mr. Munger fielded dozens of questions from shareholders, analysts and journalists.
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Berkshire is seen as a friendlier owner, but Mr. Buffett said 3G’s cuts have been “extremely intelligent”, and did not appear a threat to Kraft Heinz’s ability to produce packaged goods.
